14 de agosto de 2015 / 14:45 / en 2 años

Brazil's Cyrela to remain careful with cash as demand weakens

SAO PAULO, Aug 14 (Reuters) - Brazilian homebuilder Cyrela Brazil Realty SA expects to see slightly lower levels of cash generation in the second half of the year as demand in the nation’s real estate market weakens.

Cyrela will be “cautious” in its use of free cash flow, Chief Financial Officer Eric Alencar said on a Friday conference call to discuss quarterly earnings, without specifying potential options.

The company on Thursday reported a 30 percent drop in quarterly net income on an annual basis as sales declined amid Brazil’s deepening economic slump. (Reporting by Asher Levine; Editing by Christian Plumb)

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